Real Estate Buzz in the Palos Verdes Peninsula

The Palos Verdes Peninsula is home to several different communities, including: Rancho Palos Verdes, Palos Verdes Estates, Rolling Hills Estates and Rolling Hills.

The median price of a home on the Palos Verdes Peninsula was approximately $1,200,000 in October 2004. The average price of a home in Rancho Palos Verdes was $893,000. The average number of housing units in Palos Verdes Estates, according to the 2000 Los Angeles Census report, was 4,993 with 4,517 owner occupied units. Rancho Palos Verdes had 15,233, with 12,469 of owner occupied dwellings.

According to Jack McSweeney, a Palos Verdes realtor, Palos Verdes exhibits a seller's market. He claims that as of February 16, 2005, there were only 32 listings in the city limits. These listings ranged in price from $939,000 for a 2-bedroom, 2-bath home, to $15.5 million for a 5-bedroom 9-bath home.

The Palos Verdes Estates, one of the communities on the Palos Verdes Peninsula, is very exclusive and its history dates back to 1922. Homeowners have to request approval for just about everything from adding an addition to changing the color of the home. Before painting the exterior, a homeowner must present his or her plans to an art jury.

Ranchos Palos Verdes is another Palos Verdes Peninsula Community. According to Blanch Evans, a writer for Realty Times, the area has seen constant appreciation as of 1997. According to the article, Ranchos Palos Verdes is one of the \"choicest locations in California.\"

With communities such as these, its no wonder the Palos Verdes real estate keeps on appreciating.